BMO to be among new owners of bankrupt Samson Resources: Reuters
Samson Resources Corp, one of the largest energy companies to file for bankruptcy in the commodity downturn, proposed a new Chapter 11 exit plan on Tuesday that would swap ownership of the natural gas producer to banks in return for reducing debt, Reuters reported. The banks that would become the owners of Samson include the Bank of Montreal. The Tulsa, Oklahoma-based company was acquired by a group led by U.S. private equity firm Kohlberg Kravis Roberts & Co in 2011 in a buyout valued at US$7.2 billion.
17 May 2016•2 mins read
